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NATIONAL AFFAIRS
NDA - National Democratic Alliance
RS - Rajya Sabha
UP - Uttar Pradesh
MP - Madhya Pradesh
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2)
INTERNATIONAL AFFAIRS
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Digital
Payments
Intelligence
platform
AWARDS & RECOGNITIONS
APPOINTMENTS & RESIGNATIONS
ACQUISITIONS & MERGERS
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SCIENCE & TECHNOLOGY
2)
IMPORTANT DAYS
1)
United
Nations
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3)
STATE NEWS
1)
Chief Secretary
of Andhra
Pradesh
Disclaimer
Aim
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Hand Written Notes, meticulously designed to guide beginners in capturing important
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AFFAIRSCLOUD TODAY
Current Affairs 12 June 2024 : Headlines
18th Lok Sabha: Narendra Modi takes Oath as PM for the 3rd term; along with 71 Ministers
Sub-Lieutenant Anamika Rajeev Becomes Indian Navy’s 1st Woman Helicopter Pilot
India Participated in BRICS Foreign Ministers Meeting in Russia
IEA’s World Investment Report 2024: Global Investment in Clean Energy to Reach USD 2
Trillion is twice that of Fossil Fuels in 2024
Pixxel, Sarvam AI, Nirmai Health Analytix Among 10 Indian Startups in WEF’s Technology
Pioneer 2024 List
RBI Forms Committee under Mr. A P Hota To Set Up Digital Payments Intelligence Platform
Vellayan Subbiah Named EY World Entrepreneur of the Year 2024
Prem Singh Tamang Sworn in as CM of Sikkim for 2nd Term
Bank of India Acquires Over 6% Stake in CCIL IFSC
SpaceX’s Starship Completes 1st Full Flight With Successful Soft Splashdown
Vidyut Rakshak: Indian Army Launches Integrated Generator Monitoring, Control System
First-Ever UN International Day for Dialogue among Civilizations – 10 June 2024
International Archives Day 2024 – June 9
International Level Crossing Awareness Day 2024 – June 6
Neerabh Kumar Prasad Appointed as Chief Secretary of Andhra Pradesh
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NATIONAL AFFAIRS
18th Lok Sabha: Narendra Modi takes Oath as PM for the 3rd term; along with 71 Ministers
On 9th June 2024, Narendra Modi(73-year-old), leader of the Bhartiya Janta Party (BJP), was sworn in as
the Prime Minister(PM) of India for the third consecutive term (2024 to 2029).
Droupadi Murmu, President of India, administered the oath of office to PM Modi, along with 71
ministers, at a grand ceremony on the forecourt of Rashtrapati Bhavan, New Delhi, Delhi.
Note: The new cabinet includes 30 Cabinet Ministers, 5 Ministers of State (MoS) with independent charge
and 36 Ministers of State.
18th Lok Sabha Election Result(2024):
BJP-led National Democratic Alliance(NDA) won the 2024 Lok Sabha general election with 293 seats, a
much lower margin than predicted by exit polls. The opposition won a total of 234 seats out of 543.
• This marks Modi’s first time heading a coalition government.
Points to note:
i.PM Narendra Modi is only the second Indian PM after Jawaharlal Nehru to retain power for a 3rd fiveyear term.
• Modi previsouly served as PM of India from 2014 to 2019 and 2019 to 2024.
ii. A total 11 members of the BJP’s allies have been included in the new council of ministers.
• Out of these 11, only 5 got Cabinet berths, 2 were appointed as MoS with independent charge
and 4 as MoS.
Number of Seats Won in the 18th Lok Sabha Election
i. BJP remained the dominant party in the 18th Lok Sabha with 240 seats but was not able to achieve the
272-seats mark required for a simple majority.
• BJP previously won 303 and 282 seats in 2019 and 2014 respectively.
ii.BJP has formed the government with the support of its two pre-poll allies, the Andhra
Pradesh(AP)’s Telugu Desam Party (TDP) led by Chandrababu Naidu (16 seats) and the Bihar’s Janata
Dal (United) led by Nitish Kumar (12 seats).
iii.The Indian National Congress(INC), a part of the 26-party alliance – Indian National Developmental
Inclusive Alliance (INDIA) bloc, won 99 seats compared to 52 it won in 2019. INDIA bloc as a whole
secured 234 seats.
Appointment of the Council of Ministers & PM:
i.Article 74 in the Constitution of India states that there shall be a Council of Ministers with the PM at the
head to aid and advise the President who shall, in the exercise of his functions, act in accordance with such
advice.
ii.Article 75 of the constitution states that Prime Minister shall be appointed by the President and the
other Ministers shall be appointed by the President on the advice of the PM.
•
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iii.As per the Constitution of India, the total strength of the council of ministers cannot exceed 15% of the
total number of Lok Sabha MPs. With the current Lok Sabha having 543 members, the Council of ministers
cannot have more than 81 members.
Inclusions and Exclusions from the Cabinet
i. 38 ministers of the previous Lok Sabha were replaced
in the current cabinet. Smriti Irani, Anurag Thakur, Ajay
Bhatt, Rajeev Chandrashekhar, Ashwini Choubey, Sadhvi
Niranjan Jyoti, Meenakshi Lekhi, Arjun Munda and
Vellamvelly Muraleedharan were removed from the
Cabinet 3.0 list.
ii. 34 ministers were retained in the Council of
Ministers. These include Amit Shah, Rajnath Singh, Nitin
Gadkari, Nirmala Sitharaman, S. Jaishankar, Jyotiraditya
Scindia, Gajendra Singh Shekhawat, Hardeep Singh Puri, Mansukh Mandaviya, Pralhad Joshi, Kiren Rijiju,
Dharmendra Pradhan Arjun Ram Meghwal and Jitendra Singh were among leaders who were retained in
the Council of Ministers.
Composition of the Cabinet 3.0
i.PM Narendra Modi has retained Amit Shah, Rajnath Singh, Nirmala Sitharaman and Subrahmanyam
Jaishankar of Home, Defence, Finance and External Affairs respectively in his new government.
ii.It includes 27 ministers from Other Backward Classes, 10 from Scheduled Castes, 5 from Scheduled
Tribes and 5 from minorities.
v.There are also 33 first-timers in the ranks. Seven first -time ministers in the government belong to the
allies.
The new faces also include Suresh Gopi, the actor-turned-politician who became the first BJP MP from
Kerala.
Ministers included from Lok Sabha and Rajya Sabha
i.The Council of Ministers has 13 members from the Rajya Sabha, while 57 are newly-elected MPs from
the Lok Sabha.
ii.Two of the new ministers of state – Ravneet Singh Bittu and George Kurian – are not members of either
Lok Sabha or Rajya Sabha and are required to become a member of Parliament within six months of their
oath-taking.
iii.Out of the 31 cabinet ministers, including the PM, eight are Rajya Sabha members. These Cabinet
ministers are Jagat Prakash Nadda, Nirmala Sitharaman, S Jaishankar, Kinjarapu Rammohan Naidu,
Ashwini Vaishnaw, and Hardeep Singh Puri.
iv.Sarbananda Sonowal and Jyotiraditya Scindia have been elected to Lok Sabha this time.
v.The Rajya Sabha members who were included as Ministers of State are Ramdas Athawale, Ramnath
Thakur, Banwari Lal Verma, Loganathan Murugan, Satish Chandra Dubey, Sanjay Seth and Pabitra
Margherita.
Cabinet berth distribution with NDA allies
i.BJP’s ally, Janata Dal (United), got two cabinet seats in the Cabinet 3.0. They were Rajiv Ranjan Singh alias
Lalan Singh (cabinet minister) and Ram Nath Thakur (Minister of State).
ii.Hindustani Awam Morcha (HAM) leader Jitan Ram Manjhi was sworn in as a cabinet minister.
iii.Two Telugu Desam Party (TDP) leaders – Kinjarapu Ram Mohan Naidu and Pemmasani Chandra Sekhar
and one from the Apna Dal(S) party – Anupriya Patel – were allotted a berth in the Cabinet. Lok Janshakti
Party’s Chirag Paswan was also part of the Council of Ministers.
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iv.Shiv Sena’s Prataprao Ganpatrao Jadhava also included in the Cabinet. Republican Party of India leader
Ramdas Athawale, JDS leader HD Kumaraswamy, and Rashtriya Lok Dal leader Jayant Chaudhary were
among other that got place into the Council of Ministers.
Women Representation in the Cabinet 3.0
i.Seven women leaders were inducted into the Council of Ministers, with only two given cabinet berths.
ii.Nirmala Sitharaman and Annapurna Devi were sworn in as cabinet ministers, while five women—
Anupriya Patel, Sobha Karandlaje, Raksha Nikhil Khadse, Savitri Thakur, and Nimuben Jayantibhai
Bambhaniya joined as Ministers of State.
List of Ministers and their portfolio;
Minister
Party (Constituency)
Portfolio
Union Ministers (Cabinet Ministers)
Narendra Modi
BJP (Varanasi, Uttar PradeshUP)
Prime Minister; Ministry of
Personnel, Public Grievances
and Pensions;
Department of Atomic
Energy;
Department of Space;
All important policy issues;
and All other portfolios not
allocated to any Minister.
Rajnath Singh
BJP (Lucknow, UP)
Minister of Defence
Amit Shah
BJP (Gandhinagar, Gujarat)
Minister of Home Affairs and
Minister of Cooperation
Nitin Gadkar
BJP (Nagpur, Maharahstra)
Minister of Road Transport
and Highways
BJP (Rajya Sabha -Gujarat)
Minister of Health and Family
Welfare
Minister of Chemicals and
Fertilizers
Shivraj Singh Chouhan
BJP (Vidisha, Madhya
Pradesh-MP)
Minister of Agriculture and
Farmers Welfare and
Minister of Rural
Development
Nirmala Sitharaman
BJP (Rajya Sabha- Karnataka)
Minister of Finance and
Minister of Corporate Affairs
S. Jaishankar
BJP (Rajya Sabha – Gujarat)
Minister of External Affairs
J.P. Nadda
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Manohar Lal Khattar
BJP (Karnal, Haryana)
Minister of Housing and
Urban Affairs and Minister of
Power
H. D. Kumaraswamy
JD(S) (Mandya, Karnataka)
Minister of Heavy Industries
and Minister of Steel
Piyush Goyal
BJP (Mumbai North,
Maharashtra)
Minister of Commerce and
Industry
Dharmendra Pradhan
BJP (Sambalpur, Odisha)
Minister of Education
Jitan Ram Manjhi
HAM(S) (Gaya, Bihar)
Minister of Micro, Small and
Medium Enterprises
Rajiv Ranjan Singh (Lalan
Singh)
JD(U)(Munger, Bihar)
Minister of Panchayati Raj
and Minister of Fisheries,
Animal Husbandry and
Dairying
Sarbananda Sonowal
BJP (Dibrugarh, Assam)
Minister of Ports, Shipping
and Waterways
Dr. Veerendra Kumar
BJP (Tikamgarh,MP)
Minister of Social Justice and
Empowerment
Kinjarapu Rammohan Naidu
TDP (Srikakulam, Andhra
Pradesh)
Minister of Civil Aviation
Pralhad Joshi
BJP (Dharwad, Karnataka)
Minister of Consumer Affairs,
Food and Public Distribution
Minister of New and
Renewable Energy
Jual Oram
BJP (Sundargarh, Odisha)
Minister of Tribal Affairs
Giriraj Singh
BJP (Begusarai, Bihar)
Minister of Textiles
BJP (Rajya Sabha – Odisha)
Minister of Railways, Minister
of Information and
Broadcasting
Minister of Electronics and
Information Technology
BJP (Guna, MP)
Minister of Communications
and Minister of Development
of North Eastern Region
Ashwini Vaishnaw
Jyotiraditya M. Scindia
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Bhupender Yadav
BJP (Alwar, Rajasthan)
Minister of Environment,
Forest and Climate Change
Gajendra Singh Shekhawat
BJP (Jodhpur, Rajasthan)
Minister of Culture and
Minister of Tourism
Annpurna Devi
BJP (Kodarma, Jharkhand)
Minister of Women and Child
Development
Kiren Rijiju
BJP (Arunachal West)
Minister of Parliamentary
Affairs
Minister of Minority Affairs
Hardeep Singh Puri
BJP (Rajya Sabha – UP)
Minister of Petroleum and
Natural Gas
Dr. Mansukh Mandaviya
BJP (Porbandar, Gujarat)
Minister of Labour and
Employment and Minister of
Youth Affairs and Sports
G. Kishan Reddy
BJP (Secunderabad,
Telangana)
Minister of Coal
Minister of Mines
Chirag Paswan
LJP(RV) (Hajipur, Bihar)
Minister of Food Processing
Industries
C R Patil
BJP (Navsari, Gujarat)
Minister of Jal Shakti
Ministers of State (Independent Charge)
Rao Inderjit Singh
Dr. Jitendra Singh
BJP (Gurgaon, Haryana)
MoS (IC) Ministry of Statistics
and Programme
Implementation,
MoS (IC) Ministry of
Planning, Ministry of Culture
BJP (Udhampur, J&K)
MoS (IC) Ministry of Science
and Technology, Earth
Sciences, Prime Minister’s
Office(PMO),
Ministry of Personnel, Public
Grievances and Pensions,
Atomic Energy, and
Department of Space.
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Arjun Ram Meghwal
BJP (Bikaner, Rajasthan)
MoS (IC) Ministry of Law and
Justice
Ministry of Parliamentary
Affairs
Jadhav Prataprao Ganpatrao
Shiv Sena (Buldhana,
Maharashtra)
MoS (IC) Ministry of Ayush
Ministry of Health and Family
Welfare
Rashtriya Lok Dal (Rajya
Sabha – UP)
MoS (IC) Ministry of Skill
Development and
Entrepreneurship
Ministry of Education
Jayant Chaudhary
Minister of State
BJP (Pilibhit, UP)
Ministry of Commerce and
Industry
Ministry of Electronics and
Information Technology
Sripad Naik
BJP (North Goa)
Ministry of Power
Ministry of New and
Renewable Energy
Pankaj Chaudhary
BJP (Maharajganj, UP)
Ministry of Finance
Krishan Pal
BJP (Faridabad, Haryana)
Ministry of Cooperation
Ram Das Athawale
Republican Party of India
(Rajya Sabha – Maharashtra)
Ministry of Social Justice and
Empowerment
Ram Nath Thakur
JD(U)(Rajya Sabha -Bihar)
Ministry of Agriculture and
Farmers Welfare
Nityanand Rai
BJP (Ujiarpur, Bihar)
Ministry of Home Affairs
Anupriya Patel
Apna Dal (Mirzapur, UP)
Ministry of Health and Family
Welfare and Ministry of
Chemicals and Fertilizers
V. Somanna
BJP (Tumkur, Karnataka)
Ministry of Jal Shakti
Ministry of Railways
Jitin Prasada
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TDP (Guntur, AP)
Ministry of Rural
Development and Ministry of
Communications
BJP (Agra, UP)
Ministry of Fisheries, Animal
Husbandry and Dairying
Ministry of Panchayati Raj
BJP (Bangalore North,
Karnataka)
Ministry of Micro, Small and
Medium Enterprises
Ministry of Labour and
Employment
BJP (Gonda, UP)
Ministry of Environment,
Forest and Climate Change
and Ministry of External
Affairs
B.L. Verma
BJP(Rajya Sabha -UP)
Ministry of Consumer Affairs,
Food and Public Distribution
and Ministry of Social Justice
and Empowerment
Shantanu Thakur
BJP(Bangaon, West Bengal)
Ministry of Ports, Shipping
and Waterways
BJP (Thrissur, Kerala)
Ministry of Petroleum and
Natural Gas
Ministry of Tourism
L. Murugan
BJP (Rajya Sabha – MP)
Ministry of Information and
Broadcasting and Ministry of
Parliamentary Affairs
Ajay Tamta
BJP(Almora, Uttarakhand)
Ministry of Road Transport
and Highways
Bandi Sanjay Kumar
BJP(Karimnagar, Telangana)
Ministry of Home Affairs
Kamlesh Paswan
BJP(Bansgaon, UP)
Ministry of Rural
Development
Bhagirath Choudhary
BJP(Ajmer, Rajasthan)
Ministry of Agriculture and
Farmers Welfare
Satish Chandra Dubey
BJP(Rajya Sabha – Bihar)
Ministry of Coal and Ministry
of Mines
Chandra Sekhar Pemmasani
S. P. Singh Baghel
Shobha Karandlaje
Kirti Vardhan Singh
Suresh Gopi
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Sanjay Seth
BJP(Ranchi, Jharkhand)
Ministry of Defence
Ravneet Singh
BJP(Punjab)
Ministry of Food Processing
Industries and Ministry of
Railways
Durga Das Uikey
BJP(Betul, Madhya Pradesh)
Ministry of Tribal Affairs
Raksha Khadse
BJP(Raver, Maharashtra)
Ministry of Youth Affairs and
Sports
Sukanta Majumdar
BJP(Balurghat, West Bengal)
Ministry of Education and
Ministry of Development of
North Eastern Region
Savitri Thakur
BJP(Dhar, Madhya Pradesh)
Ministry of Women and Child
Development
Tokhan Sahu
BJP(Bilaspur, Chhattisgarh)
Ministry of Housing and
Urban Affairs
Raj Bhushan Choudhary
BJP(Muzaffarpur, Bihar)
Ministry of Jal Shakti
Bhupathi Raju Srinivasa
Varma
BJP(Narasapuram, Andhra
Pradesh)
Ministry of Heavy Industries
and Ministry of Steel
Harsh Malhotra
BJP(East Delhi)
Ministry of Corporate Affairs
and Ministry of Road
Transport and Highways
Nimuben Bambhaniya
BJP(Bhavnagar, Gujarat)
Ministry of Consumer Affairs,
Food and Public Distribution
Murlidhar Mohol
BJP(Pune, Maharashtra)
Ministry of Cooperation and
Ministry of Civil Aviation
George Kurian
BJP(Kerala)
Ministry of Minority Affairs
and Ministry of Fisheries,
Animal Husbandry and
Dairying
Pabitra Margherita
BJP(Rajya Sabha – Assam)
Ministry of External Affairs
and Ministry of Textiles
Note: George Kurian (Kerala) and Ravneet Singh (Punjab) who were neither a member of the Lok Sabha
nor the Rajya Sabha were inducted into the cabinet.
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Sub-Lieutenant Anamika Rajeev Becomes Indian Navy’s 1st Woman Helicopter Pilot
Sub-Lieutenant Anamika B. Rajeev has become the first woman helicopter pilot in
the Indian Navy after she joined the ranks of a pilot for the Indian Navy helicopters.
Lieutenant Jamyang Tsewang, the first Commissioned Naval Officer from the Union
Territory (UT) of Ladakh, also graduated as a qualified helicopter pilot.
• Anamika and Jamyang are among 21 officers awarded the Golden Wings at the passing out
parade, which took place on June 7 2024 at a naval air station Indian Navy Ship (INS) Rajali in
Arakkonam, Tamil Nadu (TN) , marks the end of both Stage I training for the 4th Basic
Helicopter Conversion Course (BHCC) and graduation of 102nd Helicopter Conversion
Course (HCC).
• Anamika will be allowed to fly helicopters such as Sea Kings, ALH Dhruvs, Chetaks and MH-60R
Seahawks.
Note: In 2018, flying officer Avani Chaturvedi of the Indian Air Force scripted history by becoming the first
Indian woman to fly a fighter aircraft solo.
•
INTERNATIONAL AFFAIRS
India Participated in BRICS Foreign Ministers Meeting in Russia
On 10th June 2024, India participated in the BRICS (Brazil, Russia, India, China and South Africa) Foreign
Ministers meeting hosted by Russia, the current chair of BRICS, in Nizhny Novgorod, Russia. The
meeting was chaired by Sergey Lavrov, Foreign Minister, Russia.
The Indian delegation at the BRICS Foreign Ministers meeting was led by Dammu Ravi,
Secretary (Economic Relations), Ministry of External Affairs (MEA).
• This also mark’s India’s first Foreign policy assignment under the historic 3rd consecutive term
of Prime Minister (PM) Narendra Modi.
Points to Note:
i.This is the 1st foreign ministers meeting since the expansion of BRICS in 2023.
•
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ii.During the 15th BRICS Summit held in 2023, Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the
United Arab Emirates(UAE) were invited to become members of BRICS.
• The 5 countries officially became the new full member of BRICS bloc on 1st January 2024.
• Currently, BRICS bloc has 10 member countries.
iii.Russia took over the chairmanship of 2024 BRICS on 1st January 2024.
Key Participants:
Key participants at the meeting were: Naledi
Pandor, Minister of International Relations and
Cooperation, South Africa, Mauro Vieira, Minister of
Foreign Affairs, Brazil, Abdullah bin Zayed Al
Nahyan, Minister of Foreign Affairs, the United Arab
Emirates (UAE), Wang Yi, Foreign Minister,
China, Sameh Shokri, Foreign Minister, Egypt, among
others.
Key Highlights:
BRICS Foreign Ministers released a joint statement
which covered the vast range of global issues
addressed during the meeting:
i.The Ministers emphasized their commitment towards
multilateralism and adherence to international law.
• The member countries reaffirmed their
support for comprehensive United Nations
(UN) reform particularly in UN Security Council (UNSC).
ii.The Ministers recognised the pivotal role played by G-20 in international economic cooperation and
welcomed the inclusion of African Union (AU) as G-20 member during the G-20 summit held in New
Delhi, Delhi in 2023.
iii.The BRICS foreign ministers unanimously raised their concerns over ongoing global conflicts like:
Russia-Ukraine War and Israel-Gaza war.
• The ministers gave call for the implementation of UNSC resolution 2728 for a immediate
durable ceasefire and supported for Palestine’s full UN membership and a two-state solution
based on international law.
iv.The ministers emphasized the importance on implementation of the UN Framework Convention on
Climate Change (UNFCCC) and the 2015 Paris Agreement.
v.The BRICS foreign ministers emphasized the need for comprehensive reform of the global financial
architecture.
• They underscored the paragraph 45 of the Johannesburg II Declaration which tasked the
Finance Ministers and Central Bank Governors of the BRICS countries to address the issue of
local currencies, payment instruments etc.
vi.The Ministers supported a robust Global Financial Safety Net with a strong quota-based and
adequately resourced International Monetary Fund (IMF).
vii.BRICS member countries in reference to the Sharm E-Sheikh Action Plan of the COP27, hosted by Egypt
in 2022, emphasized the necessary reforms in policies and practices of Multilateral Development
Banks (MDBs) to help the developing countries to meet their financial needs for development and
enhancing their climate action.
viii.The member countries expressed their support to transform the New Development Bank (NDB) into a
new type of MDB, by expanding the NDB membership as per the NDB approved policies.
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About BRICS:
i.BRICS was formed in September 2006 and it originally has 4 emerging economies as its member: Brazil,
Russia, India and China (BRIC).
ii.BRIC group was renamed as BRICS after South Africa was accepted as a full member of BRIC in 2010
iii.At present, the BRICS represents 41% of the global population, 24% of the global Gross Domestic (GDP)
and 16% of the global trade.
IEA’s World Investment Report 2024: Global Investment in Clean Energy to Reach USD 2
Trillion is twice that of Fossil Fuels in 2024
According to the annual report “World Energy Investment Report 2024” released by the International
Energy Agency (IEA), global investment in clean energy technology and infrastructure is expected to
achieve USD 2 trillion in 2024 which is twice the amount going to fossil fuels.
The report underlined the clean energy technologies that will receive investments from pool of
USD 2 trillion are: renewable, electric vehicles, nuclear power, grids, storage, lowemission fuels, among others and the remaining part of investment will be directed
towards gas, oil and coal.
• The report projected that total energy investment will breach the mark of USD 3 trillion for the
1st time in 2024.
Key Findings of World Investment Report 2024:
i.For the 1st time in 2023, the cumulative investment in
renewable power and grids overtook the amount spent
on fossil fuels.
ii.The report cautioned about the major imbalances and
shortfalls in energy investment inflows in various parts
of the world.
• It highlighted the low level of clean energy
investment in Emerging Market and
Developing Economies (EMDEs) outside
China, which will exceed USD 300 billion in
2024 (up by more than 50% since 2020) led
by India and Brazil.
• But, still the total share of global clean energy
investment in EMDE (outside China) will
remain at 15%,which far below what is
required to meet the energy demands in many
of these countries.
•
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iii.The report highlighted that solar Photovoltaic (PV) will bring significant transformation in the power
sector. It estimated that with solar PV, the combined investment in renewable and nuclear for electricity
generation will increase to 10 times the amount going to fossil fuel-fired power in 2024.
• The investment in solar PV is expected to increase to USD 500 billion in2024 due to decrease
in module prices which will further give boost to new investments.
iv.China with an estimated investment of USD 675 billion will account for the largest share of clean
energy investment in 2024, followed by Europe and the United States of America (U.S.A.) with estimated
investment of USD 370 billion and USD 315 billion respectively.
v.As per the report, global upstream oil and gas investment is expected to grow by 7% in 2024 to USD
570 billion, following a similar rise in 2023.
• This growth is mainly led by national oil companies in the Middle East and Asia.
Challenges to Achieve Clean Energy:
i.According to the report, clean energy investment by oil and gas companies reached USD 30 billion in
2023 which accounts for only 4% of the industry’s overall capital spending. Though, it is mainly aligned
with the demand levels implied in 2030, but far higher than projected in global climates goals.
ii.While, Coal investment saw consistent increase, with over 50 GigaWatts(GW)of unabated coal-fired
power approved in 2023 which is highest since 2015.
iii.Other than economic challenges, grid and electricity storage posed significant challenge on clean energy
transitions.
About World Investment Report 2024:
i.The report provides a benchmark to track capital flows in the energy sector and examines how the
investors are assessing risks and opportunities in different sectors such as: fuel and electricity supply,
critical minerals, efficiency, research and development and energy finance.
ii.The latest edition of the report provides an elaborated analysis on the sources of investment and sources
of finance in the energy sector.
iii.It also includes a new regional section which covers 10 major economies and regions.
About International Energy Agency (IEA):
Executive Director- Dr. Fatih Birol
Headquarters- Paris, France
Established in- 1974
Pixxel, Sarvam AI, Nirmai Health Analytix Among 10 Indian Startups in WEF’s Technology
Pioneer 2024 List
According to the World Economic Forum (WEF’s) Technology Pioneers 2024 list,Indian technology
startups Pixxel, Sarvam AI, Niramai Health Analytix are among the 10 Indian startups which are
featured in the list. Majority of these Indian startups are Artificial Intelligence (AI) focused.
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The list comprises 9 space companies which include Pixxel from India, 4 neurotechnology
technology startups and 4 startups in clean technology sector including AmpereHour Energy
and International Battery Company from India.
• Also, the latest edition of the list featured previously recognised companies including some of
the major tech giants like: Airbnb, Google, Kickstarter, Spotify, among others.
About Technology Pioneers 2024 List:
i.The list featured total 100 leading tech startups from 23 countries. About 33% (1/3rd) of these
companies were led by a Women Chief Executive Officer (CEO).
ii.These companies in the list focused mainly on applying new advances in Artificial Intelligence (AI) to
develop innovative solutions in various sectors such as: clean energy, healthcare, biotechnology,
space and neurotechnology.
iii.The list is dominated by the United States of America (U.S.A.) and China which has most
representation in terms of number of startups, followed
by India.
iv.The selected startups will contribute their expertise to
WEF’s global initiatives over the next two years. They
will also participate in WEF meetings, including the
Annual Meeting of the New Champions in Dalian, China,
from June 25-27, 2024.
About Indian Startups:
i.Nirmai Health Analytix (Healthtech):
Bengaluru(Karnataka)-based Nirmai, a leading
healthtech in India founded by Geetanjali Manjunath
established in 2016. It is developing an AI-based test for
early-stage detection of breast cancer, which is
affordable, portable and non-invasive.
ii.Pixxel:
Bengaluru(Karnataka)-based Pixxel is startup company
in space sector, founded in 2019 by Awais Ahmed and Kshitij Khandelwal. It is developing a constellation
of hyperspectral earth imaging satellites to capture geospatial data which will provide to sectors like
agriculture, mining and environment, among others.
iii.Sarvam AI(Enterprise Tech):
Creators of AI4Bharat, Vivek Raghvan and Pratyush Kumar founded Sarvam AI in July 2023 based in
Bengaluru, Karnataka. It aims to develop custom-made Large Language Models (LLMs) with special focus
on Indian languages and use cases.
iv.AmpereHour Energy (CleanTech):
AmpereHour works mainly in clean technology sector, founded in 2017 in Pune, Maharashtra by
Ayush Mishra, Harshal Thakur, Neehar Jathar, Rahul and Shelke.
• It builds hardware and software technology for mid to large-scale battery-based energy storage
systems. It is developing dispatchable renewable energy plants.
v.Cropin (Agtech):
It is Software as a Service (SaaS)-based agriculture startup founded in 2010 in Hyderabad. It develops a
farm monitoring and management solution to help farmers in geotagging their farms, to maintain farm
records in digital format, to keep track of crop productivity and improve farm activity.
vi.Entri (Edtech):
It is founded in 2017 by Mohammed Hisamudin and Rahul Ramesh based in Pune, Maharshtra. It is
a vernacular edtech startup that provides learning and skill development in Indian languages.
•
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vii.HealthPlix (Healthtech):
It is established in 2014 by Raghuraj Sunder Raju and Sandeep Gudibanda in Bengaluru, Karnataka. It is
developing AI-powered electronic medical records software for the health sector.
viii.International Battery Company (Clean Tech):
It is founded by Priyadarshi P in 2022 in California; the United States of America (U.S.A.).It manufactures
large-sized rechargeable prismatic lithium-ion batteries which can be used in two-wheelers, threewheelers, among others.
ix.NxtWave Disruptive Technologies Private Limited (Edtech):
Hyderabad-based(Telangana) NxtWave founded in 2020, offers AI-powered, vernacular-based coding
courses.
x.String Bio Pvt. Limited (Healthtech):
String Bio founded by Vinod Kumar and Dr. Ezhil Subbian in 2013 based in Bengaluru, Karnataka. It
manufactures raw materials for animal nutrition, agriculture, among others.
About World Economic Forum (WEF):
Founder- Prof. Klaus Schwab
Managing Director (MD)- Saadia Zahidi
Headquarers– Cologyny, Geneva Canton, Switzerland
Established in- 1971
BANKING & FINANCE
RBI Forms Committee under Mr. A P Hota To Set Up Digital Payments Intelligence Platform
The Reserve Bank of India (RBI) has formed a committee under the chairmanship of Abhaya Prasad Hota,
former Managing Director (MD) and Chief Executive Officer (CEO), National Payments Corporation of
India (NPCI).
The committee is formed to examine various aspects related to the setting up a digital public
infrastructure for Digital Payments Intelligence platform which is proposed by RBI.
• The proposed Digital Payments Intelligence platform will be equipped with advanced
technologies that can help to reduce payment fraud risks.
• The committee is required to submit its recommendations within a time period of 2 months.
Composition of the Committee:
i.Apart from chairman, the committee will have representatives from various financial institutions such
as: State Bank of India (SBI), HDFC Bank and ICICI Bank, among others.
ii.Some of the eminent persons from major payments industry are also appointed as members of the
committee such as: Vipin Surelia, Head Risk at Visa, Arif Khan , Chief Innovation Officer at
Razorpay, Jitendra Gupta , founder of Jupiter and Pranay Jhaveri, Managing Director (MD) of Euronet.
•
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Key Functions of the Committee:
i.The committee will define the modalities to identify fraudulent transactions. On identification of such
transactions will then be reported to the Central Payments Fraud Information Repository (CPFIR).
ii.The committee will recommend guidelines to ensure customer data privacy.
iii.The committee is tasked to suggest ways through which the platform can become financial
sustainable.
Key Facts about Digital Payments Frauds in India;
i.As per RBI data,Domestic payments frauds increased by 70.64%, from Rs 1,526 crore (from October
2022 to March 2023) to Rs 2,604 crore (from October 2023 to March 2024).
ii.The volume of frauds also increased from 11.5 lakh (October 2022 to March 2023)
to 15.51 lakh (October 2023 to March 2024).
iii.According to the RBI FY24(2023-24) annual report, number of fraud cases registered to RBI increased
exponentially by 300%, from around 9,000 fraud cases in 2022 to around 36,000 cases. It further noted
that private sector banks reported the most fraud cases while pubic sector banks accounted for the highest
value of frauds.
Key Proposals by RBI:
i.The RBI has suggested to revise the definition of bulk deposits from as ‘single rupee term deposits of Rs
2 crore and above’ to the limit of Rs 3 crore and above for commercial banks except, Regional Rural
Banks (RRBs).
• Banks have discretion to provide differential rate of interest on the bulk deposits as per their
requirements and Asset-Liability Management (ALM) projections.
ii.The RBI has announced to introduce auto replishment facility for Fastag, National Common Mobility
Card (NCMC), and Unified Payments Interface (UPI) Lite under e-mandate framework.
• Under e-mandate framework, when the balance in Fastags, NCMCs or UPI Lite wallets decreased
below a threshold amount sent by the customer will automatically replenish these instruments.
iii.RBI has proposed to exempt Fastags and NCMCs from a pre-debt notification requirement.
• Also, it proposed to exempt UPI-Lite from pre-debt notification since the transferred funds
remain with customer.
Note: At present e-mandate framework requires a pre-debt notification of minimum 24 hours before the
actual debit from customer’s account.
About Reserve Bank of India(RBI):
Governor: Shaktikanta Das(25th Governor of RBI)
Headquarter: Mumbai, Maharashtra
Established: 1 April, 1935
AWARDS & RECOGNITIONS
Vellayan Subbiah Named EY World Entrepreneur of the Year 2024
Vellayan Subbiah, Executive Vice-Chairman of Tube Investments of India (TII) and Chairman of
Cholamandalam (Chola) Investment and Finance Company Limited has been named as the Ernst & Young
(EY) World Entrepreneur of the Year 2024 at an award ceremony held in Salle des Etoiles, Monaco.
Key Points:
i.Vellayan was selected from among nearly 5,000 program participants that included 51 winners across 47
countries and jurisdictions competing for the global title.
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ii.It marks the fourth time, an entrepreneur from India has won this global title in this award’s 24 – year
history and also makes India the only country among EY regions to win the global entrepreneurship award
four times.
Note: Narayana Murthy (2003), Uday Kotak (2014) and Kiran Mazumdar Shaw (2023) are the other
Indians to win this award.
About EY World Entrepreneur of the Year Awards:
i.EY Entrepreneur of the Year is the only global program of its kind for entrepreneurs. This flagship
initiative celebrates leaders who are driving industry transformation, fostering economic growth, and
addressing global challenges.
ii.It is sponsored by Ernst & Young Global Limited (EY) Entrepreneur of the Year Award which is held in
more than 140 cities and in more than 50 countries.
iii.The EY World Entrepreneur of the Year 2024 was chosen by an independent panel of judges
against four criteria: entrepreneurial spirit, purpose, growth and impact.
iv.It brings founders, Chief Executive Officers (CEOs) and business leaders for a series of networking
opportunities and workshops, culminating with the winning announcement.
About Vellayan Subbiah:
i.Vellayan is a transformative business leader, began his professional journey as an engineer and then
shifted towards entrepreneurship.
ii.Vellayan first successfully navigated Chola through the fallout of a troubled partnership and then
became the Chairman of the company.
iii.In 2018, he took on leadership of TII, transformed the entire business through investment reallocation
and acquisitions and has helped TII’s share price grow 13 times.
APPOINTMENTS & RESIGNATIONS
Prem Singh Tamang Sworn in as CM of Sikkim for 2nd Term
On 10th June 2024, Prem Singh Tamang, President of Sikkim Krantikari Morcha (SKM), took oath as the
Chief Minister (CM) of Sikkim for the second consecutive term. He has been serving as the 6th CM of
Sikkim since 2019.
• Lakshman Prasad Acharya, the Governor of Sikkim administered the oath of office and
secrecy to Prem Singh Tamang and his Council of Ministers during the swearing-in ceremony
held at Paljor Stadium, Gangtok, Sikkim.
2024 Sikkim Elections:
i.Sikkim Krantikari Morcha won the 2024 Sikkim assembly elections by 31 out of the 32 seats while the
opposition Sikkim Democratic Front (SDF) secured only one seat.
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ii.Tamang won the elections from the Rhenock Assembly seat defeating SDF’s Som Nath Poudyal by
over 7,396 votes.
iii.The polling for 32 assembly seats in Sikkim was held on April 19 2024 in the first phase simultaneously
with the Lok Sabha elections.
iv.This is the third time that Sikkim has witnessed a landslide victory, following similar outcomes for
Sikkim Sangaram Parishad(SSP) and SDF in 1989 and 2009 respectively.
About Prem Singh Tamang:
i.Prem Singh Tamang, better known as P. S. Golay, is an Indian politician, and former teacher.
ii.After joining the SDF in 1993, he won the 1994 Sikkim Assembly elections from the Chakung
constituency and served as the Minister for Animal Husbandry, Ecclesiastical, and Industry Department
until 1999.
iii.On February 4, 2013, he founded the Sikkim Krantikari Morcha and officially resigned from SDF in
September 2014.
About Sikkim:
Chief Minister (CM) – Prem Singh Tamang
Governor – Lakshman Prasad Acharya
National Park – Khangchendzonga National Park
Wildlife Sanctuaries – Maenam Wildlife Sanctuary, Kyongnosla Alpine Sanctuary
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ACQUISITIONS & MERGERS
Bank of India Acquires Over 6% Stake in CCIL IFSC
Maharashtra-based Bank of India (BOI) has acquired 6.125% stake in Clearing Corporation of India
Limited (CCIL) Indian Financial System Code (IFSC), a newly incorporated entity listed in Gujarat
International Finance Tech-city (GIFT) Special Economic Zone (SEZ), reflecting its commitment to the
growth of IFSC.
• This strategic investment, amounting to Rs 6.125 crore demonstrates the growth of GIFT City
IFSC and its emergence as a global financial service provider.
• Subrat Kumar, Executive Director of International Operations at BoI, made the announcement
during an event celebrating the first anniversary of the bank’s IFSC Banking Unit (IBU) in
GIFT City.
• The establishment of the IBU at GIFT City 2023 was marked by an ambitious goal set by the
bank to achieve a business volume of USD 1 billion in its first year, with an equal focus on
advances.
• The IBU surpassed the target of USD 1 billion as of March 2024.
SCIENCE & TECHNOLOGY
SpaceX’s Starship Completes 1st Full Flight With Successful Soft Splashdown
Space Exploration Technologies Corporation (SpaceX)’s Starship, the world’s most powerful launch
vehicle ever developed, completed its 1st full test flight returning to Earth followed by a soft splashdown
of the booster in the Gulf of Mexico and the spacecraft in the Indian Ocean.
Starship was launched on 6th June 2024 from Starbase in Texas, the United States of America
(USA). This marks the fourth integrated test flight (IFT-4) of Starship.
Significance:
i.This marks a significant step towards achieving a rapidly reusable transportation system for crew and
cargo missions to various destinations, including Earth orbit, the Moon, Mars, and beyond.
ii.The previous 3 flight demos of Starship ended in explosions.
About Starship:
i.SpaceX’s Starship spacecraft and Super Heavy rocket are collectively referred to as “Starship”.
ii.It represents a fully reusable transportation system designed to carry both crew and cargo.
iii.It is capable of carrying up to 150 metric tonnes fully reusable and 250 metric tonnes expendable.
Height 121 meters and diameter 9 meters.
Starship:
•
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i.Starship is the fully reusable spacecraft and second stage of the Starship system.
ii.Height 50 meters and Diameter 9 meters
Super Heavy:
i.Super Heavy is the 1st stage, or booster, of the Starship launch system and is fully reusable.
ii.It is powered by 33 Raptor engines using sub-cooled liquid methane (CH4) and liquid oxygen (LOX).
• Of the 33 Raptor engines, 13 are in the center, and the remaining 20 are around the perimeter of
the booster’s aft end.
iii.Super Heavy will re-enter Earth’s atmosphere to land back at the launch site.
iv.Height 71 meters and diameter 9 meters.
Key Points:
i.Starship soared above the Gulf of Mexico, reaching an altitude of nearly 211 kilometers (130 miles) at
over 16,000 miles per hour (mph).
ii.This unmanned craft successfully transmitted data until its targeted splashdown site in the Indian
Ocean.
About Space Exploration Technologies Corporation (SpaceX):
Chief Executive Officer (CEO), Chief Technology Officer (CTO) & Chairman– Elon Musk
Headquarters– Hawthorne, California, USA
Founded in 2002
Vidyut Rakshak: Indian Army Launches Integrated Generator Monitoring, Control System
The Vice Chief of the Army Staff (VCOAS) of the Indian Army, Lieutenant General Upendra Dwivedi has
launched ‘Vidyut Rakshak’ and was developed by Major Rajprasad R S of the Army Design
Bureau (ADB). The launch event encompassed the roll-out of the first production units of Vidyut Rakshak.
• Vidyut Rakshak is an Internet of Things (IOT) enabled integrated generator monitoring,
protection and control system.
• It monitors generator parameters, enables fault prediction, and prevention and automates
manual operation through a user-friendly interface, saving manpower.
• The Indian Army is observing 2024 as the ‘Year of Tech Absorption’, where the
Vidyut Rakshak from ‘innovation to induction’ signifies the Indian Army’s commitment and
efforts to leverage technology as a catalyst for transformative change.
Background:
i.During Aero India 2023, a Memorandum of Understanding (MoU) has been signed between the Indian
Army and Foundation for Innovation and Technology Transfer (FITT), Indian Institute of Technology (IIT)
Delhi, for ‘Production of Innovations’.
ii.Vidyut Rakshak was displayed during the ‘Exercise Bharat Shakti’, held in March 2024 and was
witnessed by Prime Minister (PM) Narendra Modi.
IMPORTANT DAYS
First-Ever UN International Day for Dialogue among Civilizations – 10 June 2024
The first ever United Nations (UN)’s International Day for Dialogue among Civilizations was observed
on 10th June 2024 to raise awareness of the value of the diversity of civilizations and promote dialogue,
mutual respect, tolerance, and global solidarity.
• This Day represents a significant step towards promoting a deeper understanding among
people and respecting cultural diversity.
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Note: This Day aligns with China’s Global Civilization Initiative (GCI) which advocates respect for the
diversity of civilizations, the common values of humanity, the importance of inheritance and innovation of
civilizations, etc.
Background:
i.On 7th June 2024, the 78th session of the United Nations General Assembly (UNGA) adopted the
resolution A/78/L.75 by consensus, declaring 10th June of every year as the International Day for
Dialogue among Civilizations.
• The resolution invited Member States and stakeholders to commemorate the day through
educational and awareness-raising activities.
ii.The draft resolution was proposed by China, to establish the International Day for Dialogue among
Civilizations at the UNGA.
Few Voices and Perspectives:
i.The representative of China emphasised the importance of dialogue in preventing discrimination and
prejudice, enhancing cooperation, and strengthening solidarity.
ii.The representative of the United States of America (USA) stresses the importance of valuing cultural
diversity and raises concerns about the ambiguous definition of “civilization” within international law.
Additional Info:
i.The UNGA elected 18 Member States to the UN Economic and Social Council (ECOSOC) for 3-year terms,
beginning 1 January 2025.
ii.Seats for various regions, including Western Europe, Eastern Europe, and other States, are filled through
voting rounds.
International Archives Day 2024 – June 9
International Archives Day (IAD) is annually observed across the globe on 9 June to raise awareness
among the public about the significance of records and archives.
The date also commemorates the founding of the International Council on Archives (ICA) in 1948,
under the auspices of the United Nations Educational, Scientific and Cultural Organisation (UNESCO) in
Paris, France.
• 9th June 2024 marks the observance of the 76th anniversary of the ICA.
Background:
i.During the 15th International Congress on Archives in Vienna, Austria in 2004, 2,000 participants
from 116 countries adopted a resolution requesting the United Nations (UN) to designate a specific
day to highlight the importance of archives.
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ii.During the 2007 ICA Annual General Meeting, 9 June was designated as the International Archives
Day (IAD), to mark the day in 1948 on which ICA was created.
iii.The 1st ever IAD was observed on 9 June 2008, coinciding with the 60th Anniversary of ICA.
What are Archives?
i.Archives are the documentary by-products of human activity retained for their long-term value.
ii.They offer direct insights into past events through records created during individuals’ and organizations’
everyday lives and actions.
Note: According to the Universal Declaration on Archives, they are a unique and irreplaceable heritage
passed from generation to generation.
International Archives Week (IAW):
i.In 2019, the ICA expanded the IAD to extend over an entire week to promote the value
and importance of archives and archivists.
ii.2024 marked the 6th International Archives Week (IAW) and was observed from 3-9 June
2024 under the theme “#CyberArchives”.
• Over 400 ICA members and professionals selected the theme at the end of 2023.
iii.Objective: Engage archival and records management professionals, organisations, and related sectors
in a virtual discussion about the impact of technological advances on the archival field.
Note: Archives and archivists play an important role in accountability, transparency, democracy, heritage,
memory, and society.
About International Council on Archives (ICA):
President– Josée Kirps
Headquarters– Paris, France
International Level Crossing Awareness Day 2024 – June 6
The International Level Crossing Awareness Day (ILCAD) is annually observed across the globe on 6th
June to raise public awareness about the risks at level crossings and improve safety at railway crossings
globally.
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The ILCAD campaign is widely followed by the world’s railway community and is a key event for
those involved in the sector.
• 6th June 2024 marked the observance of the 16th annual ILCAD.
• The 2024 ILCAD campaign emphasised the safety of vulnerable people, with the slogan:
“Beware of trains. Life can change in a split second”.
Note: Around 50 countries participate in the annual ILCAD campaign, headed by the International Union
of Railways (UIC – Union internationale des chemins de fer), the worldwide railway organsiation.
Background:
i.The ILCAD is a joint commitment that originated from the success of the 1st European Level Crossing
Awareness Day held on 25th June 2009 in 28 countries.
ii.Goal: To raise public awareness about the dangers associated with misbehaviour at level crossings.
Significance:
i.The 16th edition of ILCAD on 6 June 2024 was preceded by the 3rd edition of the International Trespass
Awareness Day (TRESPAD) on 5 June 2024.
• TRESPAD is a UIC initiative to prevent railway trespassing.
ii.Annually, a partner country organises the launch conference to share best practices and projects to
improve safety and reduce the number of incidents at level crossings.
Key Events:
i.In 2024, the TRESPAD conference and the ILCAD conference were jointly organised by the UIC and the
Junta de Seguridad en el Transporte (JST), the Argentinian Transport Safety Board, in Buenos Aires,
Argentina on 5 and 6 June 2024.
• The TRESPAD conference was on trespassing and suicide prevention;
• The ILCAD conference was on safety at level crossings.
• Both campaigns targeted “vulnerable users.”
ii.The ILCAD and TRESPAD campaigns were launched at 2 international conferences held in person (in
Spanish and English), to exchange ideas on level crossing safety, trespass, and suicide prevention.
Note: Distinguished speakers from Latin America, Europe, Canada, India, Australia, etc., were presented to
address crucial topics.
Key Facts:
i.According to UIC estimates, there are over half a million level crossings worldwide including the
European Union (EU): 100,000+ crossings and the United States (US): 200,000+ crossings (with 20% and
40% respectively).
ii.In the EU, the US, and almost everywhere, accidents and fatalities involving level crossings account for
nearly a third of all rail accidents.
• Including pedestrian incidents, this figure exceeds 90% of all rail accidents.
About International Union of Railways (UIC):
Director General– François Davenne
Headquarters– Paris, France
Established- 1922
•
STATE NEWS
Neerabh Kumar Prasad Appointed as Chief Secretary of Andhra Pradesh
Neerabh Kumar Prasad has been appointed as the Chief Secretary of Andhra Pradesh (AP). He is the
1987-batch Indian Administrative Service (IAS) officer of AP cadre.
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•
•
•
•
The Government Order (G.O) has been issued by S. Suresh Kumar, Principal Secretary, Political
Wing of the General Administration Department (GAD).
Neerabh Kumar replaces K.S. Jawahar Reddy, who is set to retire from service in June 2024 on
attaining the age of superannuation.
Though Neerabh Kumar is set to retire from service on attaining the age of superannuation in
June 2024, Chief Minister (CM)-elect N. Chandrababu Naidu selected him for the post as he is
known to be an efficient and honest officer.
Prior to this post, he served as Special Chief Secretary, Environment, Forest, and Science and
Technology. He had been in the post since February 2022.
Two antlion species found for first time in India, Thailand
Health dept. issues guidelines for new insurance scheme
Bisleri Limonata Appoints Aditya Roy Kapur as Brand Ambassador
India and Qatar hold first JTFI meeting to boost Economic Relations
UP govt agrees for 2025 edition of MotoGP Bharat in Noida
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